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How to Delete Your Robinhood Account: A Step-by-Step Guide

Hello! Today I’m going to walk you through the process of how to delete your Robinhood account. Whether you’re switching to another investment platform or stepping back from investing altogether, closing your Robinhood account is a straightforward process. I’ve gone through it myself, and I’m here to share my experience and tips to ensure you have a smooth journey.

Why You Might Want to Delete Your Robinhood Account

Before we get into the steps, let’s talk about why someone might want to delete their Robinhood account. For me, it was about diversifying my investment portfolio with a platform that offered a wider range of services. Others might be looking for more robust customer support, different trading features, or simply taking a break from the market.

Preparing to Delete Your Robinhood Account

1. Close All Open Positions

The first step is to close all your open positions. This means selling all the stocks, ETFs, and other securities you hold in your Robinhood account. Here’s how you do it:

• Open the Robinhood App: Log in and navigate to your portfolio.
• Sell Your Holdings: Click on each asset you own and choose the option to sell. Confirm the sale to close your position.

I remember feeling a bit nostalgic about selling off my first shares, but it was necessary to move forward.

2. Withdraw Your Funds

Once your positions are closed, you need to withdraw your funds. This is important because you can’t delete your account with a positive balance.

• Go to Transfers: In the app, navigate to the “Transfers” section.
• Withdraw to Bank: Select “Transfer to Your Bank” and enter the amount you wish to withdraw. Confirm the transfer. It might take a few business days for the funds to reach your bank account.

3. Download Account Statements

Before you delete your account, download your account statements and any tax documents for your records. These documents are crucial for your financial history and tax reporting.

• Access Statements: Go to the account menu and select “Statements & History.”
• Download Documents: Save the relevant documents to your computer or print them out.

How to Delete Your Robinhood Account

1. Deactivate Your Account

To begin the deletion process, you must first deactivate your account. Here’s how:

• Contact Support: In the app, navigate to the “Help” section and search for “Close My Account.” Robinhood will guide you through submitting a request to deactivate your account.
• Follow Instructions: Robinhood may ask for confirmation and ensure that you have withdrawn all your funds and closed all positions.

2. Delete the App

Once your account is deactivated, you can delete the Robinhood app from your device. While this step is optional, it’s a good way to ensure you don’t accidentally try to log in again.